Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, April 11, 2012

Reigning The Nifty 11th April 2012

Daily Chart

The lower high lower low candle continues.Close however was above the 200 dema and the candle formed has a long lower shadow indicating stalling of the selling.This could be temporary unless it breaks out above the downtrendline -- resistance line of the flag --  at 5345 to begin with.The positive divergence on OBV is intact indicating buying strength. 

 Daily Chart II

 Half Hourly Chart

The possibility that a right shoulder of an inverse head and shoulder pattern is forming keeps bullish views alive.

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Happy Trading !!
Lakshmi Ramachandran

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